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USD/JPY Price – Extends rally to near 162.70 amid soaring US bond yields

  • USD/JPY rises to near 167.73 as US Treasury Yields soar, following upbeat US JOLTS Job Openings data.
  • Investors shift their focus to the US ADP Employment Change and the ISM Manufacturing PMI data for June.
  • Japan’s officials have signaled that they are ready to intervene to support the Yen.

The USD/JPY pair trades 0.1% higher to near 162.73 during the European trading session on Wednesday. The pair reflects strength as surging United States (US) Treasury Yields have strengthened the US Dollar (USD).

In the European trade, 10-year US Treasury Yields are up 0.18% to 4.47%, extending Tuesday’s little over 2% gains. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, is up 0.16% to near 101.33.

US Dollar Price Today

The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Australian Dollar.

USDEURGBPJPYCADAUDNZDCHF
USD0.12%0.14%0.08%0.10%0.36%0.02%0.05%
EUR-0.12%0.02%-0.04%-0.01%0.26%-0.11%-0.05%
GBP-0.14%-0.02%-0.06%-0.03%0.22%-0.13%-0.05%
JPY-0.08%0.04%0.06%0.00%0.29%-0.09%-0.01%
CAD-0.10%0.01%0.03%-0.01%0.27%-0.11%-0.02%
AUD-0.36%-0.26%-0.22%-0.29%-0.27%-0.37%-0.29%
NZD-0.02%0.11%0.13%0.09%0.11%0.37%0.09%
CHF-0.05%0.05%0.05%0.01%0.02%0.29%-0.09%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).

US bond yields are soaring due to signs of improving US job market conditions. On Tuesday, the US JOLTS Job Openings data for May arrived at 7.594 million fresh jobs, higher than 7.3 million estimates and the previous reading of 7.585 million.

Meanwhile, investors await the US ADP Employment Change and the ISM Manufacturing PMI data for June, which will be released during the North American session.

On the Tokyo front, investors expect the Japanese administration to intervene anytime soon to support the falling Japanese Yen (JPY). On Tuesday, Japan’s Chief Cabinet Secretary Minoru Kihara said that the administration is always ready to take necessary action on Forex; however, he didn’t deliver any comments regarding specific FX levels.

USD/JPY technical analysis

USD/JPY trades higher at around 162.73, extending its bullish bias as spot holds well above the 20-day exponential moving average (EMA) at 161.19. The overall trend of the pair is bullish, following the breakout of the Rising Channel formation.

The Relative Strength Index (RSI) at 78.45 sits deep in overbought territory, suggesting upside momentum remains strong but also warns that the pair could be vulnerable to bouts of corrective pullback even within the broader uptrend.

On the downside, immediate support is seen at the Rising Channel breakout region near 161.75, followed by the 20-day EMA near 161.19. Looking up, the pair could extend the rally towards 163.00 and 164.00.

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EUR/JPY Price – Eyes 186.00 amid constructive bullish bias

  • EUR/JPY could test the upper boundary of a symmetrical triangle around 186.00.
  • The 14-day Relative Strength Index at 57 indicates firm bullish momentum, leaving plenty of room for further gains.
  • Initial support sits at VWAP and clustered EMAs just below 185.50, providing a solid floor for buyers.

EUR/JPY moves little after four days of gains, trading around 185.70 during the Asian hours on Monday. The currency cross is maintaining a constructive bullish bias as it holds above the session Volume-Weighted Average Price (VWAP) at 185.29 and both the nine-period and 50-period Exponential Moving Averages (EMAs) around 184.95–184.99. This positioning suggests dip-buying interest remains in place.

Meanwhile, the 14-day Relative Strength Index (RSI) near 57.0 points to firm but not overextended upside momentum, leaving room for further gains as long as price stays supported above these nearby averages.

The technical analysis of the daily chart suggests that the EUR/JPY cross is positioned near the upper boundary of a symmetrical triangle around 186.00, indicating that the asset is gearing up for a potential breakout. Further advances above the triangle would strengthen the bullish bias and support the currency cross to test the all-time high of 187.95, which was recorded on April 17.

On the downside, initial support aligns first with the VWAP and clustered EMAs just below 185.50. A break below this confluence support zone would expose the symmetrical triangle’s lower boundary around 183.50, followed by the four-month low of 181.87, recorded on March 16, and the six-month low of 180.81.

Chart Analysis EUR/JPY
EUR/JPY: Daily Chart

Euro Price Today

The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the Australian Dollar.

USDEURGBPJPYCADAUDNZDCHF
USD0.16%0.21%0.16%0.16%0.42%0.19%0.13%
EUR-0.16%0.04%-0.02%-0.00%0.27%0.00%-0.04%
GBP-0.21%-0.04%-0.04%-0.03%0.21%-0.05%-0.06%
JPY-0.16%0.02%0.04%-0.02%0.27%-0.01%-0.04%
CAD-0.16%0.00%0.03%0.02%0.28%-0.00%-0.02%
AUD-0.42%-0.27%-0.21%-0.27%-0.28%-0.27%-0.29%
NZD-0.19%-0.01%0.05%0.00%0.00%0.27%-0.02%
CHF-0.13%0.04%0.06%0.04%0.02%0.29%0.02%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).

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AUD/JPY Price – Softens below 112.50, bias turns mildly bearish

  • AUD/JPY softens to near 112.20 in Wednesday’s early European session.
  • The cross maintains a mildly bearish bias in the near term, with soft RSI momentum.
  • The first upside barrier emerges at 112.32; the initial support level is located at 111.25.

The AUD/JPY cross trades in negative territory around 112.20 during the early European trading hours on Tuesday. The Japanese Yen (JPY) strengthens against the Australian Dollar (AUD) as traders are on alert for possible intervention from Japanese authorities.

Japan’s Finance Minister Satsuki Katayama said on Tuesday that the government was ready to take appropriate action against excessive currency moves. Additionally, Chief Cabinet Secretary Minoru Kihara stated that the government will work to build an economy less vulnerable to foreign-exchange volatility while remaining prepared to intervene in currency markets if necessary.

On the other hand, a hawkish tone from the Reserve Bank of Australia (RBA) might help limit the Aussie’s losses. According to the RBA Minutes from its June meeting, monetary policy needed to remain restrictive to remove excess demand in the economy. Markets were pricing only about 10 basis points (bps) of additional tightening by year-end, while pricing about 17 bps of easing by 2027, per Reuters.

Chart Analysis AUD/JPY

Technical Analysis:

In the daily chart, AUD/JPY keeps a mildly bearish near-term tone as it slips just under the 100-day Simple Moving Average (SMA) and the Bollinger Bands midline. Price holding below these clustered moving-average resistances suggests rallies are likely to meet supply overhead, while the Relative Strength Index (RSI) around 44 points to soft but not extreme downside momentum.

On the topside, initial resistance is seen at the 100-day SMA at 112.32, with the Bollinger midline around 112.62 acting as the next cap, ahead of the upper Bollinger band near 114.01. On the downside, the first noteworthy support emerges at the lower Bollinger band around 111.25, where a break would open the door to a deeper correction within the broader range.

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Australian Dollar struggles against Japanese Yen despite hawkish RBA Minutes

  • AUD/JPY falls despite hawkish RBA Minutes showing readiness to raise rates further if financial conditions require it.
  • China’s manufacturing and non-manufacturing PMIs both rose, beating market expectations to signal steady economic expansion.
  • Japan’s Finance Minister Katayama warned Tuesday that the government will intervene appropriately to address volatile currency moves as needed.

AUD/JPY loses ground after remaining flat in the previous day, trading around 111.40 during the Asian hours on Tuesday. The currency cross remains subdued as the Australian Dollar (AUD) holds losses following the release of the Reserve Bank of Australia’s (RBA) Meeting Minutes and key Purchasing Managers’ Index (PMI) data from China.

The RBA June monetary policy Meeting Minutes revealed that while the board views current financial conditions as somewhat tight, it remains prepared to implement further rate hikes if necessary to ensure price stability. The central bank highlighted that the ongoing conflict in the Middle East poses a dual threat to the economic outlook, presenting significant upside risks to inflation alongside downside risks to overall growth.

China, Australia’s close trading partner, showed stronger-than-expected resilience in June. The official Manufacturing PMI edged up to 50.3 from the previous 50.0, beating market expectations of 50.1. Simultaneously, the NBS Non-Manufacturing PMI improved to 50.2 from May’s 50.1, comfortably defying the consensus forecast of a contractionary 49.9 print and signaling expansion across both sectors.

The downside of the AUD/JPY cross is limited by persistent weakness in the Japanese Yen (JPY), which remains under pressure due to the wide interest rate gap between Japan and other major economies. This ongoing depreciation has kept policymakers concerned and investors on high alert for potential currency intervention by Tokyo. Highlighting this stance, Japan’s Finance Minister Satsuki Katayama stated on Tuesday that the government “will respond appropriately to currency moves at any time as needed.”

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  • EUR/JPY weakens to near 184.85 in Tuesday’s early European session.
  • Japan’s Katayama said the government was ready to take appropriate action against excessive currency moves.
  • Traders reduce their bets on the ECB rate hikes this year.

The EUR/JPY cross loses ground to around 184.85 during the early European trading hours on Tuesday. The Japanese Yen (JPY) rebounds against the Euro (EUR) as traders on alert for possible intervention from Japanese authorities. Germany’s Retail Sales and inflation data will be published later in the day.

Japanese Finance Minister Satsuki Katayama on Tuesday reiterated the authorities stood ready to respond appropriately at any time. Meanwhile, Chief Cabinet Secretary Minoru Kihara said that the Japanese government will work to build an economy less vulnerable to foreign-exchange volatility while remaining prepared to intervene in currency markets if necessary. Kihara also declined to comment on the Japanese Yen’s current level.

“It’s a question of when, not if, the Ministry of Finance (MOF) intervenes again to support the yen,” said Carol Kong, currency strategist at Commonwealth Bank of Australia.

ECB President Christine Lagarde said in a speech opening her institution’s annual retreat on Monday that Europe is becoming less vulnerable to outside shocks thanks to a better financial framework and progress on the green transition. Lagarde emphasized that tensions subside amid a peace deal, which is “far from assured.” Policymakers must decide whether further monetary tightening is needed.

Markets have pared expectations for future ECB rate increases as energy prices retreat. Oxford Economics and Capital Economics expect the ECB won’t raise the interest rates further, though investors are still pricing one more quarter-point move, which would bring the deposit rate to 2.50%.

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Euro softens against Japanese Yen as traders on alert for possible intervention

  • EUR/JPY weakens to near 184.85 in Tuesday’s early European session.
  • Japan’s Katayama said the government was ready to take appropriate action against excessive currency moves.
  • Traders reduce their bets on the ECB rate hikes this year.

The EUR/JPY cross loses ground to around 184.85 during the early European trading hours on Tuesday. The Japanese Yen (JPY) rebounds against the Euro (EUR) as traders on alert for possible intervention from Japanese authorities. Germany’s Retail Sales and inflation data will be published later in the day.

Japanese Finance Minister Satsuki Katayama on Tuesday reiterated the authorities stood ready to respond appropriately at any time. Meanwhile, Chief Cabinet Secretary Minoru Kihara said that the Japanese government will work to build an economy less vulnerable to foreign-exchange volatility while remaining prepared to intervene in currency markets if necessary. Kihara also declined to comment on the Japanese Yen’s current level.

“It’s a question of when, not if, the Ministry of Finance (MOF) intervenes again to support the yen,” said Carol Kong, currency strategist at Commonwealth Bank of Australia.

ECB President Christine Lagarde said in a speech opening her institution’s annual retreat on Monday that Europe is becoming less vulnerable to outside shocks thanks to a better financial framework and progress on the green transition. Lagarde emphasized that tensions subside amid a peace deal, which is “far from assured.” Policymakers must decide whether further monetary tightening is needed.

Markets have pared expectations for future ECB rate increases as energy prices retreat. Oxford Economics and Capital Economics expect the ECB won’t raise the interest rates further, though investors are still pricing one more quarter-point move, which would bring the deposit rate to 2.50%.

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EUR/JPY Price – Gains above 184.00, but bearish technical bias persists below 100-day SMA

  • EUR/JPY gains traction around 184.20 in Monday’s European session. 
  • The negative outlook for the cross prevails under the key 100-day SMA, with bearish RSI momentum. 
  • The initial support level is seen at 183.55; the first upside barrier to watch is 184.55. 

The EUR/JPY cross trades in positive territory near 184.20 during the early European session on Monday. However, the potential upside for the cross might be limited as traders are nervous about a fragile US-Iran ceasefire. 

The US and Iran traded fresh barbs over the weekend before they agreed to halt attacks and meet in Qatar on Tuesday. Uncertainty surrounding US-Iran talks could weigh on the riskier assets, such as the Euro (EUR) against the Japanese Yen (JPY). 

Furthermore, mounting fears of Japanese market intervention could underpin the JPY. Japan’s Chief Cabinet Secretary Minoru Kihara said last week that officials will take appropriate action against the foreign exchange moves if needed.

The European Central Bank’s (ECB) annual forum this week will be closely watched as traders continue to monitor evolving central bank policies amid lower oil prices and stock market volatility. ECB President Christine Lagarde will open the forum on Monday. Any hawkish remarks from policymakers could help limit the EUR’s losses in the near term. 

Chart Analysis EUR/JPY

Technical Analysis:

In the daily chart, EUR/JPY holds a bearish near-term bias as the pair holds beneath the 100-day moving average and the Bollinger middle band. Price action remains capped by this clustered dynamic resistance, while the Relative Strength Index (14) at 42.65 stays below the neutral 50 line, hinting at fading bullish momentum rather than outright oversold conditions.

On the downside, initial support emerges at the lower Bollinger band around 183.55, which marks the first notable demand zone that could slow the current pullback. A clear break below this band would likely expose deeper corrective territory, while on the topside, a daily close back above the 100-day moving average at 184.55 would be needed to ease immediate pressure and open the way toward the Bollinger middle band near 184.95 and, later, the upper band at 186.35.